dorset
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Post by dorset on Oct 16, 2019 12:15:24 GMT
Don’t worry the share price has been pinging about between 90p and 98p in a fairly random way for some weeks now.
I thought that someone must have put a 90p floor under the price with an automatic buy order but that didn’t kick in yesterday.
None of this is economically logical as the rational share price is probably close to zero. Given the flawed FC business model etc etc the only surprise is that Woodford was not in at the IPO filling his boots at 440p.
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upperdeane
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Post by upperdeane on Oct 18, 2019 12:14:45 GMT
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tjtl
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Post by tjtl on Oct 18, 2019 13:39:38 GMT
This piece is several months out of date- refers to a market capitalisation of £1.4bn and price nearly back to IPO levels, when the market cap is now £366m, and price is around 105p. It is actually quite a sad/funny piece as it shows just how badly the company was understood at the time of IPO. It was, and is, almost uninvestible.
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mikeh
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Post by mikeh on Oct 18, 2019 13:49:16 GMT
This piece is several months out of date- refers to a market capitalisation of £1.4bn and price nearly back to IPO levels, when the market cap is now £366m, and price is around 105p. It is actually quite a sad/funny piece as it shows just how badly the company was understood at the time of IPO. It was, and is, almost uninvestible. It's a year old. First published 19th Oct 2018.
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ashtondav
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Post by ashtondav on Oct 18, 2019 15:29:43 GMT
Amazon went 106$ to 6$ 2000 to 2001.
Not saying FC is Amazon but “uninvestible” is bollox
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upperdeane
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Post by upperdeane on Oct 18, 2019 17:40:58 GMT
Amazon went 106$ to 6$ 2000 to 2001. Not saying FC is Amazon but “uninvestible” is bollox
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upperdeane
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Post by upperdeane on Oct 18, 2019 17:42:28 GMT
This piece is several months out of date- refers to a market capitalisation of £1.4bn and price nearly back to IPO levels, when the market cap is now £366m, and price is around 105p. It is actually quite a sad/funny piece as it shows just how badly the company was understood at the time of IPO. It was, and is, almost uninvestible. It's a year old. First published 19th Oct 2018. Sorry about that. I missed the 2018 year!
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ashtondav
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Post by ashtondav on Oct 18, 2019 17:53:14 GMT
Share price up ten percent today. Anybody know why? ‘Cos it’s cheap as chips. Virtually just valued at its cash holdings. Either it goes t1ts up or you double your money. i know I’ve done much better as a lender than a shareholder. That shows the benefit of p2p
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tjtl
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Post by tjtl on Oct 21, 2019 6:33:27 GMT
Funding Circle trading statement just out this morning- marginally reassuring for stakeholders
21 October 2019
Funding Circle Holdings plc
Q3 2019 Update
Full-year guidance unchanged
Funding Circle Holdings plc ("Funding Circle"), the leading small and medium enterprise ("SME") loans platform in the UK, US, Germany and the Netherlands, today announces updates to its statistics pages for the three months ending 30 September 2019 (the "Quarter").
The data by country included in this announcement is also available on the Company's website at corporate.fundingcircle.com/investors/loan-performance-statistics.
Operational overview
· Loans under management ~£3.7 billion, up 31% compared to Q3 2018. Year to date total originations of ~£1.8 billion vs ~£1.6 billion compared to the same period last year, up 9%. · Projected annualised returns for 2019 continue to show an improvement over recent years. · In July in the UK, Funding Circle completed a £232 million asset-backed securitisation transaction adding 9 new institutional investors onto the platform in the UK. · In August in the US, Funding Circle closed a $198 million securitisation, its first asset-backed securitisation of US small business loans, adding 18 new institutional investors onto the platform in the US. FY 2019 Outlook
· Guidance for 2019 is unchanged; performance on track to meet market expectations. Samir Desai CBE, CEO and co-founder, said:
"In the third quarter, loans under management reached £3.7 billion and projected returns for 2019 continued to show an improvement over recent years. In what remains an uncertain economic environment we continue to manage the business prudently, which we are confident is the right course of action for the long-term growth and development of our business."
Group performance
2019 YTD 2018 YTD % Q3 2019 Q3 2018 % Loans under management £m 3,675 2,809 31% N/A N/A N/A Originations £m 1,753 1,608 9% 561 565 (0.5%)
Reporting timetable
· The next reporting date for loan performance statistics (gross yield, projected annualised return and projected bad debt) will be January 2020. · Full Year results will be released in March 2020.
Our statistics Loans under management (million)
2012
2013
2014
2015
2016
2017
2018
2019 YTD
Group (£)
52
145
366
860
1,362
2,107
3,148
3,675
UK (£)
52
144
332
653
1,027
1,584
2,208
2,513
US ($)
N/A
54
261
354
577
939
1,110
DE (€)
N/A
27
30
65
131
170
NL (€)
N/A
16
40
95
124
Originations (million)
2012
2013
2014
2015
2016
2017
2018
2019 YTD
Group (£)
49
130
311
721
1,065
1,738
2,292
1,753
UK (£)
49
129
279
531
823
1,264
1,531
1,172
US ($)
N/A
334
281
514
792
575
DE (€)
N/A
33
19
55
105
84
NL (€)
N/A
21
34
81
64
Gross Yield
2012
2013
2014
2015
2016
2017
2018
2019 YTD
UK
9.2%
8.4%
9.9%
9.5%
9.5%
9.5%
9.7%
9.9%
US
N/A
14.5%
13.2%
12.3%
12.8%
12.9%
DE
N/A
6.7%
9.5%
9.5%
10.2%
10.6%
NL
N/A
8.6%
10.7%
11.6%
11.0%
Projected annualised return range (after fees and bad debt)1
2012
2013
2014
2015
2016
2017
2018
2019 YTD
UK
7.1-7.2%
6.0-6.2%
7.2-7.4%
6.5-6.8%
5.0-5.5%
4.0-4.6%
4.2-5.2%
5.0-7.0%
US
N/A
2.6-2.8%
4.1-4.9%
5.3-6.2%
5.0-6.3%
5.7-7.8%
DE
N/A
0.1-1.0%
2.3-4.1%
5.0-6.9%
5.0-7.0%
5.0-7.0%
NL
N/A
3.7-4.5%
5.6-7.6%
6.0-8.0%
6.0-8.0%
Projected bad debt rate range2
2012
2013
2014
2015
2016
2017
2018
2019 YTD
UK
1.3-1.3%
1.5-1.6%
1.7-1.9%
2.0-2.2%
3.1-3.6%
4.0-4.6%
3.6-4.6%
2.1-4.0%
US
N/A
10.7-10.9%
7.5-8.3%
5.5-6.4%
6.1-7.3%
4.8-6.8%
DE
N/A
4.7-5.6%
4.5-6.2%
1.8-3.6%
2.4-4.3%
2.8-4.7%
NL
N/A
3.2-4.0%
2.4-4.3%
2.9-4.8%
2.3-4.2%
ENDS
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tjtl
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Post by tjtl on Oct 21, 2019 6:34:44 GMT
Apologies- the RNS formatting didn't work on the above, but you should get the general idea
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djay
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Post by djay on Oct 21, 2019 8:17:18 GMT
The share price is up probably because the market likes the securitizations in both UK and US. However, same old FC smoke and mirrors, allot of gloss about growth in year to date. They completely ignored in summary and text that originations are actually down in the last quarter- the market may get to grips with that as the day goes on. The comparable Q3 last year was full blown swell the loan book for the IPO, how the market factors that in is anybodies guess.
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ashtondav
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Post by ashtondav on Oct 21, 2019 8:35:05 GMT
Adding institutional lenders is very important. Far cheaper to manage than 000s of fickle retail investors with little understanding of p2p risks.
What surprised me is tha ytd growth is only 9% up on 2018 comparable. Either demand is softening and or lending criteria are being tightened. Quite encouraged as someone who sniffled a few at 101p and just sold.
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ashtondav
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Post by ashtondav on Oct 21, 2019 10:12:51 GMT
Adding institutional lenders is very important. Far cheaper to manage than 000s of fickle retail investors with little understanding of p2p risks. What surprised me is tha ytd growth is only 9% up on 2018 comparable. Either demand is softening and or lending criteria are being tightened. Quite encouraged as someone who sniffled a few at 101p and just sold. Oh blast! I sold at 112 and now 117.....
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r00lish67
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Post by r00lish67 on Oct 21, 2019 14:52:44 GMT
FC nailing investor concerns in their pointed hard hitting investor newsletter:
"It feels like we may have seen the last of those warm summer evenings as we make way for the change in seasons. October brings us cosy nights and wet weather - the perfect excuse to embrace movie nights and planning for the festive season"
Feeling Christmassy?
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Post by Ace on Oct 21, 2019 15:16:36 GMT
Father Christmas, an overweight duffer that keeps on dishing out rubbish presents. Lots of superficial decoration that turns out to be a load of balls. Beware it could be bad for your 'elf!
I'll get my coat...
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